Company Valuation: Lindt

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 29,923 21,980 23,697 23,214 26,775 19,854 - -
Change - -26.54% 7.81% -2.04% 15.34% -25.85% - -
Enterprise Value (EV) 1 30,217 22,552 24,640 23,863 27,872 20,875 20,807 20,813
Change - -25.37% 9.26% -3.15% 16.8% -25.1% -0.33% 0.03%
P/E 60.5x 39.8x 35.7x 34.5x 37.1x 27.8x 26.1x 24.3x
PBR 5.6x 5.09x 5.63x 4.79x 5.44x 3.99x 3.81x 3.64x
PEG - 2.2x 1.8x 25.55x 4.5x 34.98x 4.07x 3.34x
Capitalization / Revenue 6.53x 4.42x 4.56x 4.25x 4.53x 3.34x 3.23x 3.07x
EV / Revenue 6.59x 4.54x 4.74x 4.36x 4.71x 3.52x 3.39x 3.22x
EV / EBITDA 32.8x 22.2x 22.5x 20.2x 21.9x 16.2x 15.4x 14.5x
EV / EBIT 46.9x 30.3x 30.3x 27x 28.7x 21.3x 20.1x 18.9x
EV / FCF 51.6x 42.9x 51.6x 27.4x 148x 25.5x 27.4x 27.4x
FCF Yield 1.94% 2.33% 1.94% 3.65% 0.67% 3.91% 3.64% 3.64%
Dividend per Share 2 1,200 1,300 1,400 1,500 1,800 1,860 1,973 2,080
Rate of return 0.98% 1.37% 1.37% 1.5% 1.55% 2.12% 2.25% 2.37%
EPS 2 2,019 2,387 2,859 2,898 3,137 3,162 3,365 3,609
Distribution rate 59.4% 54.5% 49% 51.8% 57.4% 58.8% 58.7% 57.6%
Net sales 1 4,586 4,970 5,201 5,468 5,916 5,938 6,138 6,458
EBITDA 1 921.5 1,018 1,094 1,182 1,271 1,289 1,352 1,436
EBIT 1 644.9 744.6 813.1 884.2 971 981.2 1,035 1,103
Net income 1 490.5 569.7 671.4 672.3 727.2 726.6 764.1 813.8
Net Debt 1 294.7 571.3 943.3 649.4 1,096 1,021 952.7 958.2
Reference price 2 122,200.00 95,000.00 102,000.00 100,000.00 116,400.00 87,800.00 87,800.00 87,800.00
Nbr of stocks (in thousands) 241 232 233 231 230 229.2 - -
Announcement Date 3/8/22 3/7/23 3/5/24 3/4/25 3/10/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
22.45x3.01x14.84x3.65% 267B
19.32x2.62x15.49x3.06% 84.25B
18.28x1.87x10.72x3.43% 49.01B
20.55x3.23x12.94x3.26% 34.83B
12.88x0.48x8.47x2.95% 33.78B
29.04x5.61x18.63x2.97% 29.62B
18.58x1.81x12.7x4.44% 29.37B
-8.52x1.84x9.14x6.59% 28.98B
59.38x9.08x37.77x1.27% 25.91B
Average 21.33x 3.29x 15.63x 3.51% 65B
Weighted average by Cap. 21.22x 3.01x 14.93x 3.53%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Lindt

Historical PBR trend

Valuation ratios - PBR - Lindt

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Lindt

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Lindt


Year-on-year evolution of the Yield

Valuation ratios - Yield - Lindt